Accounts & Bookkeeping

HMRC takes on eBay

Fresh from the recent news that HMRC may be targeting online traders for undeclared earnings, it would appear that there has never been a better time to engage a specialist eBay Accountant. However, given the current economy, many people are seeking a cheap accountants as well as one who can give them the advice they need.
eBay in the News
It was reported on 15 May 2012 that as part of a crackdown on tax dodging, HMRC have written to some 32,500 people whom it believes are trading online on a regular basis but who may not be declaring their income, or their true income. These people, HMRC believes have more tax to pay – and it wants their money.
Although HMRC has given the traders the opportunity to enjoy reduced penalties, there is warning that those who fail to do so could be hit with much higher penalties, especially in cases where HMRC has evidence to prove the owed amounts.
The move comes after HMRC previously targeted self employed traders, home tutors and those with money offshore and would appear to be part of a much larger plan to grapple money from those who fail to declare their earnings.
A HMRC spokesman commented “Most e-traders pay what they owe. However, there is a significant minority not paying all that they should, and we are encouraging those people to come forward now, get their tax affairs straight, and benefit from the best possible terms.”
Of course, it’s entirely possible that many of the people involved simply didn’t know that their online earnings were taxable. The chances are that an eBay accountant could have helped them.
Yorkshire Accountancy can Help
Whether you’re an eBay trader or one of (many) small business owners taking advantage of Ecommerce, we can help. We know that you’re looking for a high quality eBay accountant and maybe a cheap accountant so we set our tariffs and our services to appeal to you and your business.
 
 

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